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Friday, April 26, 2013

S&P500 : Mini crash on April the 23rd


Not that Rock's last post was bad, but time for change I guess. Ok, these markets have legs. No need to prove this anymore. But what the hell happened on April the 23rd, between 1:08PM and 1:10PM, when the S&P500 lost 0,85% in a matter of 2 minutes ?


WTH was that ?

 Let's discuss.. guess it'll be between those ad bots and me! there can be only one.

BTW, support here is 1576 (previous high), then 1555, then 1520/1530. Above that 1576 level, previous high of 1,597.35 acts as a resistance (until proven wrong of couse!).

Ah and 2 last pieces of advice :


  • as always : don't you try to catch a top ;)
  • don't short a market that's trending up (and it means any stock, as nearly any stock will act accordingly to global markets). Or maybe just a small short position, to act as an hedge.

11 comments:

  1. Bring in the spams!!! Ready here.;)

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  2. Started a medium-sized long position today, and that was before the US markets broke above a mere 0.30%. While I, just like Johnny, am expecting a correction, can't wait on the sidelines while indices are breaking to new highs. "Well see"

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  3. WolfStreetStillInDaPitMay 2, 2013 at 12:31 PM

    Time to break this 1600 line don't ya think?;D

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  4. WolfPitStilkInDaStreetMay 3, 2013 at 1:04 PM

    1600 => target clear. The sky is the limit...

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  5. John Murphy is bullish in today's market commentary. Can't give the specifics here though, since it's a paying daily commentary.

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  6. These ... markets ... can't ... fail ...

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  7. Closed a short position on a French stock linked to oil, with a pocket change profit. I'm staying away from shorting from now on. Too much stress for me. Not good given how this rally has legs anyway... Guess the only wise move now is staying on the sidelines, waiting for a correction to go long.

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  8. Reading the comments, i realize that i didn't mentionme getting out of my long position. Yes in a word: too late to get (back) onboard.

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  9. My little finger argues for a big down day today. But again, my little finger ain't that relevant except when it comes to women that is.(huh... good thing DSS/Denise ain't around anymore!)

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  10. WolfSreetVsHimselfMay 15, 2013 at 12:04 PM

    I mean, who's buying at these levels??? Ok disclaimer: couldn't help myself, went short a French oil stock.. Lol

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  11. Looking at AAPL right now. IIRC support is very close, at 427. Will put up a new post shorty, if i muster the motivation. Not that great a buy for me though since I'm in Euro and the dollar is particularly strong right now (but he, I'm a jackass anyway)

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